I have been known on occasion to spend hours watching different videos on YouTube. I am not sure why but I am fascinated by some of the things people allow themselves to believe or some of the behavior exhibited that is recorded. For the past couple of months I have been caught up in watching different videos about secret government bank accounts that are being kept from ordinary Americans. People have been so taken by these videos that the New York Times did a major story on it a few days ago.
The unfortunate thing is that thousands of people have been caught up in this story. So much so that several Federal Reserve Banks, utility companies, and others have issued warnings to consumers to beware of this so-called secret bank account. The truth is that it is a SCAM of epic proportions, but a lot of people got caught up in it.
So for today’s post I thought I would talk about the scam and if you know anyone please steer them away from these bogus accounts.
What Is the Scam?
The scam has its roots in American conspiracy theories over the Federal Reserve. Ever since the Federal Reserve system was created in 1913 there has been a variety of conspiracy theories about the banks. All of us are familiar with the Federal Reserve. Every time you spend cash you are spending a Federal Reserve note. However, the Federal Reserve is not a government agency. It is not run by the central government. Yet the Federal Reserve, like many central banks around the world, are important to the economic health of many nations. The two primary missions of the Federal Reserve is curbing inflation and creating conditions for increasing employment in the United States.
That is not all what many people believe the Federal Reserve does. For many, the Fed is a shadowy government agency that actually controls the United States and its citizens. Here is how the scam works or at least the popular iteration I have seen.
Let me state first this scam isn’t new. I remember arguing with my ex-wife’s uncle about the Federal Reserve, NAFTA, and the New World Order back in the 1990s. So it isn’t new at all.
According to the people who promulgate these beliefs, when you are born your birth certificate is more than just a piece of paper it is a government bond. You see according to the true believers the United States is actually a corporation. As a citizen you are a corporation. However, you don’t know that you are corporation nor that you have a bond in your name. You see that bond is worth millions, if not billions, of dollars that is traded by the Federal Reserve back and forth between people.
Your social security number is the account number on that particular bond. These are called Treasury Direct Accounts or TDAs.
According to the adherents of these ideas we don’t know that we have billions of dollars sitting in a Federal Reserve Bank. In fact, here is the kicker, we aren’t supposed to know. For example, if you take out a loan on a car, student loan, home, you are actually borrowing from yourself. That is why they need your social security number for these applications. What happens is you think that you are getting money from the bank, but in reality you are getting it from yourself and the interest you pay is actually to the bank, not to pay back the loan, but for the banks profits. In other words, you are borrowing your own money.
So we have millions of dollars of sitting in these banks that we never access too that the federal reserve uses for other things. Yet a few heroes have supposedly cracked the code. They have figured out (apparently the computer folks at places like Google, Facebook, and other high-tech companies aren’t smart enough) how to access your accounts.
You see what you do is if you want to pay a bill what you often do is you have to pay with a bank account that includes your account and a routing number. Well each Federal Reserve Bank has a routing number. The reason for that is because the Fed actually regulates and borrows money to banks and other entities all of the time. For those transactions to work they have to have routing numbers. The Fed doesn’t loan money to individuals, but to different banks throughout the world.
But anyone can find these routing numbers online. So what they advise you to do is use your social security number as your bank account and the federal reserve bank routing number, particularly the area in which you were born. You enter that information, for example, to pay your utility bill. And what happens is with a lot of bills, because you have a proper routing number, is that the transaction will initially go through. So it looks like everything is great. You have paid your bills. There have even been people who have paid off tens of thousands of debt or bought things with that money. When that payment goes through, at least according to the folks who supposedly cracked the code, is proof that a count exists and that you have a secret account worth millions, if not billions. People have even tried to fill their investment accounts with money from these secret accounts.
Here is the problem. That transaction make go through initially, but typically within a couple of days or weeks the transaction will be reversed. Sometimes the transactions can be reversed and it will come with penalties, your account may be closed, or if it is a lot of money you could be arrested for fraud.
The problem is that people who are in desperate financial straits want this to be true. And the presentations put out by these so-called gurus is compelling. People are so compelled that it initially works and they buy into it, but inevitably most if not all the transactions will be reversed and the consumer gets in trouble.
Paying these bills with these accounts is fraud.
Here is also where these people in the know make their money. Some of them will offer specific documents that you can purchase that will make you a particular entity or something that will allow you to fight the reversals. Some people ask for money on a GoFundMe account so that they continue to spread the message. Some people will ask for some money so they can show you a specific program on how to do the program. Of course, the stuff they are giving you is all bullshit.
One , a guy named Randall Beane, went out and got a couple million dollars transferred from these so-called accounts, put it in bank CDs, cashed out the CDs a few days later and went on a shopping spree. He is currently in jail for fraud. Another person, Heather Tucci-Jarraf has also been arrested because of this fraud.
Another person, a guy named Harvey Dent (not his real name) has been peddling the same types of stuff. He had made a couple dozen videos talking about these accounts. He heads a movement he calls the “Intellectual Freedom Movement” where he invites people to watch the videos and judge for themselves. What he doesn’t say is that:
There are NO secret accounts.
Your birth certificate is NOT a bond.
You are NOT worth billions because you are born.
The Federal Reserve is NOT controlling your life.
A lot of this believe in the Federal Reserve is also linked to conspiracy theories involving Jews and the like. According to the some stories, the Jews actually control the Federal Reserve, in particular the Rothschild family. They actually control the entire world. They are pulling the puppet strings of states, are the causes of major wars, set up the system to get richer, etc. All of which, is absolute crap.
There are all kinds of these conspiracy theories about how the New World Order is going to take over the U.S., enslave the world, all for the profit of bankers. That is what these scammers would have you believe. It isn’t true. There isn’t a global cabal to enslave you.
Does the world have problems? Sure. Is it the fault of some one world government? The Jews? The Vatican? HELL NO!
The Bottom Line: Please be aware of this scam. I am sure none of the people reading this blog will fall for it, but there tens of thousands of people who apparently have. If you know someone please convince them not to do it. They could get in BIG trouble, not only financially, but from other forces. There is no secret bank account. The only way one builds wealth is the old fashioned way. You have to save, invest, and earn it.